Packers releasing Jordy Nelson, signing Jimmy Graham

The decision to cut Nelson, 32, creates $10.2million in cap space for the Packers and leaves just $2.3m in dead money.

He has spent his entire 10-year career in Green Bay, but slowed down significantly last season and frees up the funds to bring in Graham when the window to sign free agents begins on Wednesday.

"We cannot thank Jordy enough for all that he has given the Green Bay Packers and our community for the past 10 years," general manager Brian Gutekunst said after Nelson's release was announced.

"He has been an exemplary professional and team-mate and greatly contributed to our success.

"Jordy will always be a member of the Packers family and we look forward to his eventual induction into the Packers Hall of Fame. We wish Jordy, his wife Emily, and the rest of their family all the best."

Tuesday's move came minutes after NFL.com reported the impending signing of Graham, who has spent the last three years with the Seattle Seahawks.

With the Seahawks, Graham – who will sign a three-year deal at Lambeau Field - posted 18 total touchdowns, 10 of which came last season, and 2,048 receiving yards.

It was rumoured that five-time Pro Bowl selection Graham, 31, would return to the New Orleans Saints, especially after the re-signing of quarterback Drew Brees, but instead he will represent the Packers.

In a 2017 season disrupted by Aaron Rodgers' injury, Nelson's yards-per-catch total was 9.1 and he managed just 53 receptions and 482 yards in 15 games, which was much lower than previous years and just a season removed from posting 1,257 yards in 2016.